R Squared Ltd Buys New Stake in Northrop Grumman Co. (NYSE:NOC)

R Squared Ltd purchased a new position in shares of Northrop Grumman Co. (NYSE:NOC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 430 shares of the aerospace company’s stock, valued at approximately $202,000.

A number of other institutional investors also recently made changes to their positions in the stock. Cornell Pochily Investment Advisors Inc. grew its stake in Northrop Grumman by 0.9% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after acquiring an additional 20 shares during the period. Asset Dedication LLC grew its position in shares of Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after purchasing an additional 20 shares during the period. Foundations Investment Advisors LLC grew its position in shares of Northrop Grumman by 1.4% in the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock valued at $780,000 after purchasing an additional 20 shares during the period. PBMares Wealth Management LLC increased its stake in Northrop Grumman by 0.5% in the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock valued at $2,335,000 after purchasing an additional 20 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV lifted its position in Northrop Grumman by 0.9% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock worth $1,194,000 after buying an additional 20 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NOC shares. Royal Bank of Canada upped their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. UBS Group increased their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a research report on Wednesday, January 8th. Finally, TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and a consensus price target of $550.94.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,255 shares of company stock worth $663,859 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Trading Down 1.0 %

NOC opened at $481.56 on Thursday. The firm has a market capitalization of $70.16 billion, a P/E ratio of 29.84, a P/E/G ratio of 0.95 and a beta of 0.35. The firm’s 50 day moving average is $478.87 and its 200-day moving average is $497.74. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.71%. Northrop Grumman’s payout ratio is currently 51.05%.

Northrop Grumman declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.